Recommendation: BUY 0…
AUD/USD is chasing the “Shark”
SELL 0.7880, SL 0.7935, TP 0.7760
On the daily chart, AUD/USD keeps correction to the uptrend. For its further development bears need to pull the prices below 0.7900 and renew correction low at 0.7875. In this case, the “Shark” pattern will be triggered. Its 88.6% target corresponds to the lower border of the medium-term uptrend.
On H1, AUD/USD keeps consolidating in the 0.7880-0.7965 area in line with “Shakeout-Fakeout” and “Spike and ledge” patterns. The break of support at 0.7880 will be a signal for the development of correction towards 0.7760.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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